MIRA
INFORM REPORT
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Report Date : |
12th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
ADVANCED
LOGISTICS & PROCUREMENT |
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Registered Office : |
Plot
290A Ajose Adeogun, Victoria Island, Lagos, Nigeria. |
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Country : |
Nigeria |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
63369 |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
Logistics
and Finance |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REPORT SUMMARY
Name :Advanced Logistics and Procurement Services Ltd
Address :Plot 290A Ajose Adeogun, Victoria Island, Lagos, Nigeria.
Tel :+234 – 1- 262- 5148/9
+234 – 1- 444- 7044/55
+234 – 1- 461- 0080
Fax :+234 – 1- 461- 0090
E-mail :mario@alpsltd.com
Website :www.alpsltd.com
Registered Office : Plot 290A Ajose Adeogun Street, Victoria Island Lagos, Nigeria
Date Incorporated : 2005
Started Business :9th April 1968
Managing Director/CEO : Mr. Nicolas Yazbeck
Legal Form : Private Limited Liability Company
RC No.
: 63369
Authorized Capital : N10,000,000
Line of Business : Logistics and Finance
Product/Service : * Import Duty and Finance.
Overseas order consolidation and Repacking
Sea/Air Freight and Bulk Cargos
Clearing
Haulage and Local Transport
Number of Employees : Forty
Trade Membership
: N/A
Sales Turnover :
Networth : Financial information was not provided, despite our visit to their office
BUSINESS RISKS
SUBJECT’S BUSINESS ENVIRONMENT
The Nigerian economy is improving
because the government has put in place a lot of economy reform. However, the
economy is still characterized with low capacity utilization in the industries,
high inflationary trends, unfavourable interest rate and high unemployment
rate.
NATURE OF SUBJECT’S BUSINESS
Subject
specializes in procurement and logistics in Nigeria. Advanced Logistics and
Procurement Services Ltd offers a comprehensive range of services from
importation, documentation, follow-up, finance and haulage.
THE SUBJECT AND ITS INDUSTRY
The logistics
and procurement industry in Nigeria is highly profitable because of the wide
market for its services. Advanced Logistics and Procurement Services Limited
has distinguished itself in the industry with efficient services delivery.
Subject is an active and viable player in the industry.
CHAIRMAN/MANAGING DIRECTOR & CEO
Mr.
Nicolas Yazbeck is the Managing Director and Chief Executive Officer and
directly in charge of general operation. All major decisions are taken by him
with his executive directors.
BUSINESS DIRECTION OF SUBJECT
Subject
always thinking of adding value to their customers and to remain an active
player within the industry.
CASH FLOW & PROFITABILITY
Despite
our visits to subject office, financial information was not provided.
MARKETS AND PRODUCTS
The
subject’s clients are mainly multinational companies in Nigeria.
MARKET GEOGRAPHICAL SPREAD
Subject
services covers the six geopolitical zone of Nigeria
PRODUCT RANGE
Advanced
Logistics and procurement services Limited offer the following services
Import
Duty and Finance
Sea/Air
Freight and Bulk Cargoes.
Overseas
order consolidation and Repackaging.
Haulage
and Local Transport.
Clearing
-PRODUCT LIFE CYCLE
The life span of the subject’s services is dynamic. This will be
sustained by the increased activities in the private sector
THE SUPPLY CHAIN
Subject
operates in the middle of the supply chain in the private sector. Subject
offers its services to multinational Companies in Nigeria
TECHNOLOGY & CHANGE
Subject
is adapts to technology and change in the execution of it contracts with
Private
sector in Nigeria
COMPETITIVE ADVANTAGE
Long years of experience
Track record of contract job executed
COST LEADERSHIP
Subject’s
operates at a low cost. However, the lever of jobs and the operating
environment may determine this cost level.
BREAKTHROUGH PRODUCTS/SERVICES
Subject
does not have any breakthrough services.
COMPETITIVE FORCES
Subject’s
major competitive forces include indigenous companies involved in the same line
of business of Logistic and Procurement Services
EXISTING COMPETITORS
- Ronish
Nigeria Limited
- Global
Logistis Company
- Mcvic
Ventures and Logistics Nigeria Limited
Dawoye Nigeria Limited
- Cargoes
Nigeria Limited
THREAT OF NEW ENTRANT
Subject
does not consider a new entrant as a threat. Besides, the market is open to
competition that would enhance the competitiveness in the sector
SUPPLIER POWER
The
industry is characterized with many Logistics services provider. Henceforth,
monopolistic situation does not exist
BUYER POWER
Subject
services have a ready market in Nigeria especially with multinational
companies. No one buyer can exert any undue influence on volume of price
SWOT ANALYSIS
- Strengths : Competence and efficient
services delivery
Technical Experience
- Weaknesses :Inadequate Funds
- Opportunities : Large market
- Threats :Unfavorable government
policies
SHAREHOLDERS
& SHARES HELD
Mario
Bouchars
Nicolas
Yazbeck
Eli
El-khazen
Comment: Information on
shareholders held was not provided.
AFFILIATED COMPANIES
Subject
has no affiliated company.
PROFESSIONAL ADVISERS
Information
not available.
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PREMIES
Subject is located at 290A Ajose Adeogun
street Victorial Island Lagos.This is a two
Storey building painted in white. Subject
occupies the
ground and the third Floor. It is a rented apartment.
MANAGEMENT PROFILE
Name Designation
Nicolas Yazbeck MD/CEO
Comment: Information on other line managers was not provided as at
the reporting date.
EMPLOYEES
Forty
COMMENT: Subject is still at its growing state.
OWNERSHIP STRUCTURE
(a)
Shareholding percentage:
Foreign
IOO percent
Nigeria:
Nil
MARKETING REPORT
Pricing policy :Competitive
Turnover/Products (N) :N/A
Turnover by Geographical
Distribution (N) :N/A
Advertisement/Promotion :
Print and Electronic Media
Marketing Research :often
Competitive Analysis
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Price :Competitive
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Location : Operation Office is
situated in
290a
Ajose Adeogun Street Victorial
Island Lagos
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Distributive Network :Nationwide
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Quality of Product/Services : High
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Advertisement :Often
ECONOMIC TREND
2006
Foreign
Exchange Rate to US$ N145
Interest
Rate (Lending) 35%
GLOBAL ECONOMIC TREND
Globally,
the industry is large with a lot of potential and opportunities. It is a
Profitable
venture worldwide
SUPPORT FACILITIES
1.
Computers
2. Power
Generating plants
3.
Access Road
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BRANCH
Advanced
Logistics and Procurement services, Wharf Road Apapa, Lagos, Nigeria
SOURCE OF RAW MATERIALS
Local:
Foreign
Comment:
Subject offers services, henceforth it does not source for raw materials
However,
subject has some foreign partners in Europe and South Africa
FINANCIAL INFORMATION
Financial
information was not provided by subject’s principal despite our numerous call
and visits to their office.
JUDGMENT ABOUT SUBJECT’S CREDIT
STANDING
CHARACTER
Subject is well
known in the industry with its quality services delivery supported by a crop of
experience management staff.
ABILITY
According to the
Memorandum and Article of Association, Subject is empowered to enter
Into financial contractual
agreement.
MEANS
Subject has the financial muscle to service
short credit
PURPOSE
Any facility
granted will be used for business expansion
AMOUNT
Subject can be considered good for medium
term credit assistance.
REPAYMENT
Any facility granted will be amortized from
the cash flow of the subject’s operations
INSURANCE
Subject Assets are adequately insured with
WAPIC Insurance Ltd, Insurance Company
In Nigaria
INTEREST
Subject is willing to pay the prevailing
interest rate stipulated by the Financier
COMMISSION
Subject will pay any commission agreed by
both parties
EXTRA
Extra charges, such as management, commitment
and legal fees will be borne by subject.
VITAL GOVERNMENT CONTACT
Subject
has no government contact
LITIGATION
No legal
issue was bought to our notice at the time of preparing this report.
BANKERS
Zenioth
Bank Plc
United
Bank for Africa Plc
PAYMENT HABIT/HISTORY
Regular
EXECUTIVE LIFESTYLE
Name :
Nicolas Yazbeck
Address : 290A Ajose Adeogun Street Victorial Island Lagos
Nationality : Lebanese
Position
in the Company : Managing Director/CEO
Professional
Qualification(s) :None
Marital
Status :
Single
Number
of Children : N/A
Political Association : None
PROPERTY OWNED BY PRINCIPAL
Real
Estate
- Number : None
- Location :
None
Automobile Number: Two (2)
Brands:
Club
Membership :
List of
Titles :None
Hobbies :Reading
OTHER FACTORS
GOVERNMENT REGULATIONS
There is
no government regulation except, the government allowed the influx of foreign
investors into the country.
LEGAL ISSUE
No legal
issue was brought to our notice at the time of preparing this report
LABOUR ISSUES
Subject does not belong to any organized
union. Besides, subject’s employees are well remunerated.
INFRASTRUCTURE PROBLEMS
The
provision of basic amenities has witnessed tremendous improvement in the recent
past, power supply, water supply and good road network.
CORRUPTION ISSUES:
Laws has been put
in place to curb the scourge but not yet totally eradicated
TERRORISM:
Presently
there is no trace of terrorism in Nigeria. Except, in oil rich communities
where there is kidnapping of expatriate working in Oil Companies.
LOCAL DIVIDEND PAYOUT REQUIREMENTS
Private limited liability companies are not
obliged by law to declare dividend. This is done only at the instance of the
shareholders.
INTEGRITY OF OWNERS CHARACTER:
Subject’s owners are well known in the Logistic and procurement
services Industry.
STOCK MARKET SHARE MOVEMENT
Stock
Price: Subject is a private limited liability
company. Henceforth, it shares are not quoted on the floor of Nigeria Stock
Exchange
COMMENT AND RECOMMENDATION
Advanced
Logistics and Procurement limited was incorporated in Nigeria as a private
limited liability company to carry out the business of Logistics and
procurement services. Subject is an active and viable player in Logistic and
procurement industry In Nigeria.
Meanwhile,
Financial information was not provided despite our visit to their office.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |